Cullinan Associates Inc. Has $11.41 Million Stake in Illinois Tool Works Inc. (NYSE:ITW)

Cullinan Associates Inc. boosted its stake in Illinois Tool Works Inc. (NYSE:ITW) by 33.0% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 42,504 shares of the industrial products company’s stock after buying an additional 10,539 shares during the period. Cullinan Associates Inc.’s holdings in Illinois Tool Works were worth $11,405,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Turtle Creek Wealth Advisors LLC acquired a new stake in Illinois Tool Works in the 4th quarter valued at $26,000. Frazier Financial Advisors LLC acquired a new position in Illinois Tool Works in the fourth quarter worth $26,000. Security National Bank acquired a new position in Illinois Tool Works in the fourth quarter worth $28,000. Financial Connections Group Inc. acquired a new position in Illinois Tool Works in the fourth quarter worth $28,000. Finally, Bruce G. Allen Investments LLC acquired a new position in Illinois Tool Works in the fourth quarter worth $29,000. Institutional investors and hedge funds own 79.77% of the company’s stock.

Insiders Place Their Bets

In other Illinois Tool Works news, Director David Byron Smith, Jr. purchased 775 shares of the stock in a transaction on Thursday, June 13th. The stock was bought at an average cost of $238.82 per share, for a total transaction of $185,085.50. Following the completion of the acquisition, the director now directly owns 121,506 shares of the company’s stock, valued at $29,018,062.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.26% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on ITW. Wells Fargo & Company reduced their price objective on Illinois Tool Works from $255.00 to $244.00 and set an “underweight” rating on the stock in a research note on Wednesday, May 1st. Barclays reduced their price objective on Illinois Tool Works from $229.00 to $217.00 and set an “underweight” rating on the stock in a research note on Tuesday, June 4th. StockNews.com upgraded Illinois Tool Works from a “hold” rating to a “buy” rating in a research report on Monday. Citigroup boosted their target price on Illinois Tool Works from $258.00 to $269.00 and gave the stock a “neutral” rating in a research report on Monday, April 8th. Finally, Stifel Nicolaus boosted their target price on Illinois Tool Works from $258.00 to $259.00 and gave the stock a “hold” rating in a research report on Wednesday, April 17th. Four investment analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $254.00.

Illinois Tool Works Trading Up 0.6 %

NYSE ITW traded up $1.33 on Tuesday, reaching $234.74. The company had a trading volume of 272,015 shares, compared to its average volume of 1,183,425. The stock’s 50 day moving average is $243.51 and its 200-day moving average is $253.84. The stock has a market cap of $70.05 billion, a price-to-earnings ratio of 23.10, a PEG ratio of 3.48 and a beta of 1.10. The company has a quick ratio of 0.94, a current ratio of 1.32 and a debt-to-equity ratio of 2.07. Illinois Tool Works Inc. has a 52 week low of $217.50 and a 52 week high of $271.15.

Illinois Tool Works (NYSE:ITW) last released its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $2.44 EPS for the quarter, beating analysts’ consensus estimates of $2.35 by $0.09. The business had revenue of $3.97 billion during the quarter, compared to the consensus estimate of $4.03 billion. Illinois Tool Works had a return on equity of 97.82% and a net margin of 19.07%. The firm’s revenue was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.33 earnings per share. Equities analysts predict that Illinois Tool Works Inc. will post 10.22 earnings per share for the current year.

Illinois Tool Works Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Friday, June 28th will be issued a $1.40 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $5.60 annualized dividend and a dividend yield of 2.39%. Illinois Tool Works’s dividend payout ratio (DPR) is currently 55.23%.

Illinois Tool Works Profile

Illinois Tool Works Inc manufactures and sells industrial products and equipment in the United States and internationally. It operates through seven segments: Automotive OEM; Food Equipment; Test & Measurement and Electronics; Welding; Polymers & Fluids; Construction Products; and Specialty Products.